Lanco signs pact with Uttaranchal

Lanco Group has signed a project development agreement for developing hydroelectric power projects in Uttaranchal, up to an installed capacity of 70 MW, according to a company press release here on Thursday. Lanco Electric Utility Ltd will market the energy on a merchant basis. Lanco Electric, the trading wing of Lanco, holds category F licence for trading power across the country. A notable feature of the projects are the low tariff of Rs 1.50 per unit. Located across the river Mandakini, the projects would generate 350 million units of energy a year, the release added. After commissioning, the energy generated would provide substantial relief to the power-starved northern region. The agreement was signed on Thursday by Mr N. Ravi Shankar, Principal Secretary, Energy of Uttranchal Government, and Mr D.V. Rao, Director and Chief Executive Officer, Hydro Division of Lanco Group in Dehradun.

(This article was published in the Business Line print edition dated June 2, 2006)

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